Latest news with #MazenNadim
Fintech News ME
06-06-2025
- Business
- Fintech News ME
Egypt Launches Standardised Reporting Framework for Startups and Investors
Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA), backed by World Bank, has collaborated with several venture capital firms and the US-based platform to introduce a standardised portfolio reporting framework for startups and investors across the country. Led by Foundation Ventures, the initiative includes participation from Algebra Ventures, Sawari Ventures, Shorooq Partners, Endure Capital, Camel Ventures, DenVC, LoftyInc Capital, DisrupTech Ventures, and the Climate Resilient Africa Fund. The aim is to establish common metrics, reporting timelines, and formats, addressing the longstanding issue of inconsistent data practices within Egypt's startup ecosystem. Although Egypt's startup scene has expanded significantly in recent years, inconsistent reporting standards remain a key challenge. Startups frequently contend with producing varied reports to meet different investor requirements, while venture capital firms face difficulties in assessing portfolio performance due to the absence of unified benchmarks. The initiative seeks to simplify reporting processes for both general partners (GPs) and portfolio companies through a centralised data platform designed to enhance transparency, reliability, and operational efficiency. 'We are excited about enhancing Egypt's investment attractiveness by providing the necessary transparency to encourage foreign direct investment,' said Mazen Nadim, Managing Partner at Foundation Ventures. Following a competitive selection process, was chosen to develop and operate the platform. The company is working in partnership with Egyptian GPs to tailor the system to local requirements and workflows. The platform is expected to be fully implemented by the end of the second quarter of 2025, with the first comprehensive ecosystem report anticipated by mid-2026. By introducing a unified reporting framework, the effort is expected to ease administrative burdens for startups, provide greater clarity for investors, and strengthen Egypt's position as a destination for regional and international venture capital.
CairoScene
01-06-2025
- Business
- CairoScene
Egypt's VCs Unite on First Standard Reporting with MSMEDA Backing
For the first time globally, all venture funds in a single market have aligned to set best practices and unify reporting standards. Jun 01, 2025 In a first-of-its-kind move around the globe, Egypt's top venture capital firms have aligned to adopt a unified platform for portfolio company reporting. Spearheaded by Foundation Ventures in collaboration with MSMEDA and the World Bank, the initiative includes Algebra Ventures, Camel Ventures, Sawari Ventures, Shorooq Partners, and others, marking the first time an entire VC ecosystem in one country has agreed on standardised metrics and reporting practices. The initiative aims to streamline data collection and improve transparency across the startup ecosystem, addressing long-standing inefficiencies in how performance is tracked and communicated. This effort is intended to build consistency in reporting and create a shared language between startups, investors, and stakeholders. 'This initiative sets a precedent for emerging markets globally,' Mazen Nadim, Managing Partner of Foundation Ventures, tells StartUpScene. 'We are excited about enhancing Egypt's investment attractiveness by providing the necessary transparency to encourage foreign direct investment as well as more opportunities for local startups to access capital.' US-based platform was selected by all participating General Partners following a rigorous evaluation process, with implementation expected by mid-2025.
